Bosch sells starter motor business
As early as two years ago, Bosch aired considerations to sell the starter motor and generator business which is bundled in the subsidiary Robert Bosch Starter Motors Generators Holding GmbH (SG), based in Stuttgart (Germany). With a headcount of some 7000, SG is active in 14 countries. The seat of the company will remain Stuttgart. The buyer intends to take over the almost 7,000 SG employees as well as all SG locations in full.
According to Bosch, ZMJ is active through several holdings in the automotive sector; the company is already an important supplier in the Chinese market. With the acquisition, the company plans to complement its existing activities. Bosch, ZMJ and CRCI signed a corresponding purchase contract. Silence was agreed on the amount of the purchase price. The transaction is subject to antitrust and other regulatory approvals.
The sale is in line with Bosch’s recent announcements to focus on future-prone activities in the development of technologies for automated driving, connected vehicles, powertrain electrification and IT-driven services. Starter motors are a rather old-school product: Invented in 1899 by Clyde J.Coleman, this system has been in use in series cars since 1911 (Cadillac). Bosch manufactures starter motors since 1916.
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